For the purposes of Chapters 1A through 12A of this title, the following terms shall have the meanings respectively ascribed to them by this section:

(1) BANK. Any banking corporation or trust company organized under the laws of this state under the jurisdiction of the superintendent of banks of this state or organized under the laws of the United States having its principal place of business in this state.

Terms Used In Alabama Code 5-1A-2

  • circuit: means judicial circuit. See Alabama Code 1-1-1
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • following: means next after. See Alabama Code 1-1-1
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
  • United States: includes the territories thereof and the District of Columbia. See Alabama Code 1-1-1
(2) SUPERINTENDENT. The Superintendent of Banks of this state.
(3) RECEIVERSHIP COURT. The circuit court of the county in which is located the principal office of a bank in receivership.
(4) NATIONAL BANK. A national banking association organized pursuant to 12 U.S.C. § 21.
(5) CAPITAL. The sum of the par value of the authorized shares of a bank which have been issued and remain outstanding.
(6) SURPLUS. The aggregate of the amounts transferred to surplus pursuant to Section 5-5A-21 and any amounts subsequently designated as such by action of the board of directors of the bank.
(7) UNDIVIDED PROFITS. The accumulated undistributed net profits of a bank.
(8) BANK HOLDING COMPANY. A bank holding company as defined in 12 U.S.C. § 1841.